We've reached the quarterfinals action of the singles tournaments with a lot of the usual suspects making up the field on the men's side, as seven of the world's top eight seeds are still alive.
Here's a look at all of the quarterfinal matches on tap for the next two days followed by analysis of the favorites for each the men's and women's brackets.
|(1) Rafael Nadal||(22) Grigor Dimitrov|
|(4) Andy Murray||(6) Roger Federer|
|(7) Tomas Berdych||(3) David Ferrer|
|(8) Stanislas Wawrinka||(2) Novak Djokovic|
|(14) Ana Ivanovic||(30) Eugenie Bouchard|
|(4) Na Li||(28) Flavia Pennetta|
|(11) Simona Halep||(20) Dominika Cibulkova|
|(5) Agnieskza Radwanska||(2) Victoria Azarenka|
Men's: Novak Djokovic
Looking at the structure of the draw, No. 2 Novak Djokovic looks like the clear favorite to emerge from his side of the bracket that also includes quarterfinal opponent No. 8 Stanislas Wawrinka, No. 3 David Ferrer and No. 7 Tomas Berdych.
Not to mention Djokovic is the three-time reigning champion of the Australian Open.
Djokovic has breezed through the first four rounds of this year's tourney, earning straight-set victories in each of his matches.
Wawrinka recently acknowledged to ATPWorldTour.com that he has a top-notch foe in Djokovic.
"I watched him a little bit today. He's really, really tough to beat," said Wawrinka. "I had five sets against him last year here. Five sets in the US Open. But I didn't win. I didn't find the solution to beat him. So it's going to be really difficult."
In all, Djokovic holds a 15-2 career advantage in this series, including 14 straight wins entering play on Tuesday.
Could we be headed for another Djokovic-Rafael Nadal clash in the final? It's entirely possible, but it will be hard for Nadal to emerge out of his side of the bracket that also features No. 4 Andy Murray, No. 6 Roger Federer and quarterfinal opponent No. 22 Grigor Dimitrov.
Women's: Victoria Azarenka
Now that Williams—the world's No. 1-ranked women's player—and Sharapova—the world No. 3—have been eliminated, all eyes are on No. 2 Victoria Azarenka.
The Belarusian has won each of her four Open matches in straight sets, including an impressive 6-3, 6-2 takedown of American Sloane Stephens in the round of 16. Going forward, Azarenka's stiffest competition figures to be No. 4 Na Li, whom she could only meet in the final.
Azarenka won the 2012 and 2013 Australian Opens and is in a great position to repeat. With her win over Stephens earlier this week, Azarenka pushed her win streak at Melbourne Park to 18 matches.
According to the Agence France-Presse (h/t The National), Azarenka is feeling comfortable down under.
"I’m glad I could find my rhythm and go for my shots. I just love playing here. It feels so cozy, it feels like home," she said.
If this tournament has showed us anything so far, however, it's that upsets can happen. Azarenka might be the favorite now, but don't count out the upstart group of players that is still vying for the women's crown.